TDS TCS Returns

Understanding TDS & TCS Returns

Whenever your business makes certain payments — like salary, rent, contractor bills, professional fees, interest payments, etc. — you may be required to deduct tax before paying the recipient. This is TDS (Tax Deducted at Source).

Similarly, when tax is collected by a seller while selling specific goods such as scrap, tendu leaves, liquor or motor vehicles, it is known as TCS (Tax Collected at Source).

Filing TDS/TCS returns every quarter ensures that whatever tax you’ve deducted or collected is correctly reported to the Income Tax Department and accurately reflected in the recipient’s Form 26AS and AIS. It keeps your business fully compliant and avoids unnecessary penalties or notices.

Key points:

• TDS applies on salary, professional charges, contractor payments, interest, rent, commission, brokerage, and more.

• TCS applies on sale of specified goods or certain high-value transactions.

• Quarterly filing of returns (Form 24Q, 26Q, 27Q & 27EQ) is mandatory.

• Wrong PAN entries or mismatches can cause credit issues for the payee.

• Late filing attracts penalties, interest, and strict compliance follow-ups.

How LegalCliq Supports Your TDS & TCS Compliance

Whether you are an employer, a service provider, a shop owner, or a company handling multiple vendor payments, TDS/TCS compliance can feel tricky. LegalCliq makes the entire process effortless — from identifying deductions to filing returns accurately and on time.

What we do:

• Assess your transactions and help you identify where TDS/TCS is applicable.

• Calculate the correct deduction or collection amount based on latest rules.

• Prepare and file quarterly TDS/TCS returns (Forms 24Q, 26Q, 27Q, 27EQ).

• Generate challans, verify CIN details, and check data accuracy before filing.

• Handle correction statements, re-filing, and notice replies if errors appear.

• Assist in issuing TDS/TCS certificates (Form 16, 16A, 27D).

• End-to-end support from computation to filing acknowledgment.

Our Step-by-Step Filing Process

We keep your tax compliance organised, clear, and timely. Our process ensures there are no last-minute surprises.

Our approach:

1. Initial Assessment:
   We study your payment structure and previous filings to identify deductions applicable under various sections.

2. Data Collection:
   You share details of payments made, challans, employee/vendor PAN numbers, and supporting ledgers.

3. TDS/TCS Calculation:
   We compute the deduction/collection amount based on transaction type, thresholds, exemptions and current rates.

4. Tax Payment Assistance:
   We help you generate and pay challans (ITNS 281) correctly and verify bank & CIN details.

5. Quarterly Return Filing:
   We prepare and file the return on time through the TRACES and Income Tax portals after verifying all entries.

6. Post-Filing Support:
   You receive acknowledgements, periodic updates, and help with issuing Form 16/16A/27D to employees and vendors.

Documents & Information Required

TDS/TCS filing follows a strict quarterly cycle. Missing deadlines can lead to financial penalties — so proper scheduling is crucial.

What to expect:

• TDS/TCS returns must be filed every quarter — June, September, December and March.

• Returns are generally due within 30 days after the quarter ends.

• Late filing attracts a penalty of ₹200 per day till the return is submitted.

• LegalCliq provides clear pricing based on number of entries, number of deductees, and whether corrections are needed.

• You receive a complete cost estimate upfront — fully transparent, no surprises later.

Why LegalCliq Is the Right Partner for TDS & TCS Returns

TDS/TCS compliance is not just about tax deduction — it’s about accuracy, timely reporting, and protecting your business from future disputes. LegalCliq ensures your filings stay error-free and fully compliant.

Why clients trust us:

• Experienced tax professionals with deep knowledge of every TDS/TCS section.

• Smooth, organised and transparent execution from start to finish.

• Timely reminders and quick turnaround time — no missed deadlines.

• Support for correction statements and notices when required.

• Fair pricing plans ideal for startups, MSMEs, professionals, and large businesses.

• Remote support across India — from Delhi NCR to any city or town.

Timelines & Cost Overview

TDS/TCS filing follows a strict quarterly cycle. Missing deadlines can lead to financial penalties — so proper scheduling is crucial.

What to expect:

• TDS/TCS returns must be filed every quarter — June, September, December and March.

• Returns are generally due within 30 days after the quarter ends.

• Late filing attracts a penalty of ₹200 per day till the return is submitted.

• LegalCliq provides clear pricing based on number of entries, number of deductees, and whether corrections are needed.

• You receive a complete cost estimate upfront — fully transparent, no surprises later.